You see, I've been perplexed, wondering whether or not inventory levels were truly being depleted to unbelievably low levels, wondering if this is peculiar to our area. I though it was. However, I have had several conversations with others across the country, but more so in the southwest states, that have said their inventory levels were also lower. That it is not a peculiar phenomenon to St George, was quite a surprise to me. However, our inventory levels were quite low even compared with other areas and it is not hard to understand why. St George has a better than average appeal with many people wanting to take advantage now.
The most common phenomenon I've heard on the phone by far, that has become increasingly apparent- retiree's who want to get in now, 5 years before they retire, just so they can have that golden piece of real estate grow on them. They often lack the resources and the follow through however. Their main lament or dilemma has been, "It is too hard to jump on the good opportunities when they first come out when I do not live there". Yes, all you investors, it is difficult.
However, I do have a few investors whom have done just that with me. In these cases it came down to having a good REALTOR® who could advise on the ground "as if you were here". As such, I've helped others secure something without them even being in town. How do they do that? I know what they are looking for so well and between them staying on top of their email updates and calling me the first instance, I can do the rest, from visiting the property in some cases, to researching in's and out's for you with the agent, and sending you comparable solds in the same neighborhood, sometimes within the last 6 months. All of this can work to ones advantage if you trust the process. In any case, my people always get to come in and see the property, which is always encouraged before going through with the purchase and in the first instance one can arrange it. For more details into the market, call me, Brian anytime (I know this area), at (435) 674-3600, I can help!
Here are the most recent real estate stats for the area. Notice the inventory levels were draining to ultimate lows in the summer, but have gone back up a little going into winter 2012, thus stabilizing.
|The Months Inventory is: how long would it take the current inventory to sell, if no new homes came onto the market.|